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US stock market report – retail sales grow, AMC to accept Bitcoin

US stock markets were mixed with both the S&P 500 and Dow Jones falling 0.2% overnight.

Retail sales grow, big tech gains

The Nasdaq continued its positive run, adding 0.1% as Amazon (NASDAQ: AMZN) gained 0.4% on stronger than expected retail sales.

The result was significantly better than expected, with retail sales up 0.7% in August, turning around the expected result of a 0.7% fall. Excluding vehicle sales, growth was 1.8%. However, worrying trends are emerging as both restaurant and bar spending continues to flatline, likely holding back the recovery. And why not when it was reported overnight that one in 500 Americans have died from COVID-19.

AMC to accept Bitcoin, Cisco guides for growth

Meme stock king AMC Entertainment (NYSE: AMC) fell 1.7% despite announcing its intention to accept Bitcoin for movie ticket purchases before Christmas.

Meanwhile, shares in Cisco (NASDAQ: CSCO) were flat despite forecasting revenue growth of 5-7% over the next four years.

US stock market movers

Here’s how other popular US stocks performed on Thursday.

  • Duolingo (NASDAQ: DUOL) up 15.4%
  • Trade Desk (NASDAQ: TTD) up 3.4%
  • Square (NYSE: SQ) up 2.5%
  • Snapchat (NYSE: SNAP) down 1.6%
  • Newmont (NYSE: NEM) down 4.0%
  • Bilibili (NASDAQ: BILI) down 4.6%

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is heading towards a negative open on Friday. For all the latest, check out Rask Media’s ASX 200 morning report.

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Are you stuck wondering where to invest right now? Have you got cash 'sitting on the sidelines'? Are you looking for dividend income AND growth but don't know where to start? Rask's expert ASX analyst team has just released a full report, detailing where we'd invest $10,000 right now.

Not only are we offering these 11 investment ideas completely FREE, we've also released an in-depth podcast to go with the report!

So, whether you have $2,000 or $50,000, our brand new analyst report could help transform your watchlist. Right now, you can get the full analyst report emailed to you for FREE by CLICKING HERE NOW.

At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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